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License, Collaboration and Other Significant Agreements (Tables)
12 Months Ended
Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Revenues Recognized From License, Collaboration and Other Significant Agreements
During the years ended December 31, 2021, 2020 and 2019, the Company recognized the following revenues from its license, collaboration and other significant agreements and had the following deferred revenue balances as of December 31, 2021:
 For the Year Ended December 31,
 202120202019
License, Collaboration and Other Revenue:(in thousands)
MTPC Agreement$12,438 $15,405 $10,000 
Otsuka U.S. Agreement36,588 93,446 131,314 
Otsuka International Agreement16,449 45,451 75,614 
Total Proportional Performance Revenue$65,475 $154,302 $216,928 
JT and Torii5,814 5,681 5,882 
MTPC Other Revenue73 6,423 1,072 
Total License, Collaboration and Other Revenue$71,362 $166,406 $223,882 
Deferred Revenues Balance During the years ended December 31, 2021, 2020 and 2019, the Company recognized the following revenues from its license, collaboration and other significant agreements and had the following deferred revenue balances as of December 31, 2021:
 December 31, 2021
 Short-TermLong-TermTotal
Deferred Revenue:(in thousands)
Otsuka U.S. Agreement$7,970 $12,402 $20,372 
Otsuka International Agreement5,467 4,393 $9,860 
MTPC7,469 — $7,469 
Vifor Agreement— 4,679 $4,679 
Total$20,906 $21,474 $42,380 
Changes In Contract Assets and Liabilities The following table presents changes in the Company’s contract assets and liabilities during the years ended December 31, 2021 and 2020 (in thousands):
 Balance at
Beginning of
Period
AdditionsDeductionsBalance at End
of Period
Twelve Months Ended December 31, 2021    
Contract assets:    
Accounts receivable (1)$3,045 $64,676 $(48,627)$19,094 
Prepaid expenses and other current assets$1,722 $2,592 $(5)$4,309 
Contract liabilities:
Deferred revenue$40,559 $83,491 $(81,670)$42,380 
Accounts payable$7,227 $3,171 $(7,227)$3,171 
Accrued expenses and other current liabilities$10,000 $— $(10,000)$— 
Twelve Months Ended December 31, 2020
Contract assets:
Accounts receivable (1)$15,822 $161,772 $(174,549)$3,045 
Prepaid expenses and other current assets$— $1,722 $— $1,722 
Contract liabilities:
Deferred revenue$72,950 $122,108 $(154,499)$40,559 
Accounts payable$— $17,324 $(10,097)$7,227 
Accrued expenses and other current liabilities$— $10,615 $(615)$10,000 
 
(1)Excludes accounts receivable from other services related to clinical and regulatory activities performed by the Company on behalf of MTPC that are not included in the performance obligations identified under the MTPC Agreement as of December 31, 2021 and 2020. Also excludes accounts receivable related to amounts due to the Company from product sales which are included in the accompanying consolidated balance sheets as of December 31, 2021 and 2020.
Revenue Recognized Resulting from Changes in Contract Asset and Contract Liability
During the years ended December 31, 2021, 2020 and 2019, the Company recognized the following revenues as a result of changes in the contract asset and contract liability balances in the respective periods (in thousands):
 
For the Year Ended December 31,
Revenue Recognized in the Period from:202120202019
Amounts included in deferred revenue at the beginning of the period$23,364 $36,032 $80,634 
Performance obligations satisfied in previous periods$81 $25,964 $45,592